Warren Buffett’s Berkshire Hathaway sold billions of dollars worth of stock and invested little money in the US equity market in the first three months of the year, as the famed investor saw little appeal in a volatile market.
Berkshire disclosed on Saturday that it had sold shares worth $13.3bn in the first quarter and bought stocks worth just a fraction of that figure. Instead, it put $4.4bn towards repurchasing its own stock, as well as $2.9bn on the shares of other publicly traded businesses.
The figures underscore the struggle